Coppell Advisory Solutions LLC Buys Shares of 26,096 Cirrus Logic, Inc. $CRUS

Key Points

• Coppell Advisory Solutions initiated a position in Cirrus Logic by purchasing 26,096 shares valued at approximately $39,000. Institutional investors collectively own 87.96% of the company.
• Cirrus Logic insiders sold 11,424 shares worth about $1.64 million over the past 90 days, while corporate insiders retain a 1.20% ownership stake.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $150.71 price target. The company recently beat quarterly EPS estimates, reporting $1.84 per share, while revenue rose 12.9% year over year.

Coppell Advisory Solutions LLC purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,096 shares of the semiconductor company's stock, valued at approximately $39,000. Coppell Advisory Solutions LLC owned about 0.05% of Cirrus Logic as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC raised its position in Cirrus Logic by 6.2% during the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company's stock worth $162,000 after acquiring an additional 80 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Cirrus Logic by 29.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company's stock worth $46,000 after purchasing an additional 88 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company's stock worth $598,000 after purchasing an additional 95 shares during the last quarter. Diversified Trust Co lifted its stake in Cirrus Logic by 1.1% in the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company's stock valued at $1,316,000 after buying an additional 102 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Cirrus Logic by 120.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company's stock valued at $32,000 after buying an additional 120 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cirrus Logic

In related news, EVP Jeffrey Baumgartner sold 1,458 shares of Cirrus Logic stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $145.97, for a total value of $212,824.26. Following the transaction, the executive vice president owned 16,405 shares in the company, valued at approximately $2,394,637.85. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Brannan sold 6,464 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $144.71, for a total value of $935,405.44. Following the sale, the executive vice president directly owned 7,203 shares of the company's stock, valued at approximately $1,042,346.13. This trade represents a 47.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,424 shares of company stock worth $1,644,091 over the last ninety days. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRUS. Weiss Ratings reissued a "hold (c+)" rating on shares of Cirrus Logic in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Cirrus Logic from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. KeyCorp lowered their price target on shares of Cirrus Logic from $190.00 to $170.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. Barclays reduced their price objective on shares of Cirrus Logic from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 6th. Finally, Jefferies Financial Group raised shares of Cirrus Logic to a "buy" rating in a research note on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cirrus Logic has a consensus rating of "Hold" and a consensus price target of $150.71.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $113.13 on Friday. The firm's 50-day simple moving average is $130.05 and its 200-day simple moving average is $146.68. Cirrus Logic, Inc. has a 1-year low of $106.26 and a 1-year high of $180.42. The firm has a market cap of $5.67 billion, a P/E ratio of 13.85 and a beta of 1.16.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.81 by $0.03. The firm had revenue of $459.72 million during the quarter, compared to analyst estimates of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. Cirrus Logic's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 earnings per share. Analysts expect that Cirrus Logic, Inc. will post 7.32 earnings per share for the current fiscal year.

Cirrus Logic Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company's product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.

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